Tullow Oil - Holy F***

geeky · 11-10-2011 02:06PM #1

Just spotted this story online - basically, a Ugandan MP has claimed that Tulow bribed several ministers in the country. National newspapers aren't covering it - fancy that.

Ugandan Ministers Took Bribes From Tullow, Claims MP
MP presented documents he claims are proof of corruption.

Ugandan Prime Minister Amama Mbabazi and two senior ministers accepted bribes from an oil company, one of the country’s MPs has claimed in parliament. Gerald Karuhanga said that the Prime Minister, Foreign Affairs Minister and Internal Affairs Minister had received bribes from British-based Tullow Oil, and presented a document entitled Brief on Uganda’s Oil Deals to back up his accusations. He added that he intends to present parliament with a motion to establish a committee to investigate bribery in the oil industry.
continues...

http://www.investoronline.ie/equities/ugandan-ministers-took-bribes-from-tullow-claims-mp/

Isn't it a little disconcerting that the broadsheets here haven't touched this? An Irish-born company accused of serious wrongdoing. I remember when Tullow came up in the wikileaks cables, nobody in the mainstream press said boo either. Should we care that Irish companies are accused of this stuff?

Joey the lips · 11-10-2011 02:07PM

I will give this a couple of days to effect tullows share value then i will buy buy buy.....

Tullow have found a fair few propects recently....

godscop · 11-10-2011 02:08PM

Where is Tullow ?

MidlandsM · 11-10-2011 02:08PM

an oil company bribing government officals, who'd have thought it ehhhhhhhhhhhh?

stephen_k · 11-10-2011 02:09PM

What!!! Someone in Africa accepted bribes... I've heard it all now...

Pride Fighter · 11-10-2011 02:10PM

godscop wrote: »

Where is Tullow ?

Co Carlow.

Tullow oil, is I believe the second largest company listed on the ISEQ, (I think CRH is first). Both of them are absolute slime, CRH provides concrete to Israel to build walls to separate Palestinians from Israelis and Tullow does the likes of this.

This does not surprise me. In capitalism the nice guys never win.

Carter P Fly · 11-10-2011 02:14PM

Uganda is so corrupt nothing about bribery is newsworthy. You might as well be reporting about e-mail fishing scams for the, YAWN, billionth time

_blank_ · 11-10-2011 02:14PM

Pride Fighter wrote: »

CRH provides concrete to Israel to build walls to separate Palestinians from Israelis

Provides, or sells?

You make it sound like CRH is run by Crazy Zionists there, which is not the case.

If I was in business and selling a product, should I vet my customers to see what they are using my product for?

Weird.

fontanalis · 11-10-2011 02:14PM

They should have sent them to get the oil of Mayo.

dilallio · 11-10-2011 02:19PM

That Ugandan MP is only peeed off cos he didn't get his cut.

Pride Fighter · 11-10-2011 02:20PM

Des wrote: »

Provides, or sells?

You make it sound like CRH is run by Crazy Zionists there, which is not the case.

If I was in business and selling a product, should I vet my customers to see what they are using my product for?

Weird.

Any exchange of goods or services to Apartheid Israel is equivalent to breaking the embargo placed on South Africa in the 80's.

In short CRH are operating for a quick buck rather than for the benefit of humanity.

Chuck Stone · 11-10-2011 02:20PM

S'all in the game yo.

geeky · 11-10-2011 02:34PM

Chuck Stone wrote: »

S'all in the game yo.

Lols.

I know I shouldn't be surprised, but I'm not exactly comfortable with Irish companies going around acting like that. And I'm really not comfortable with the fact that it isn't being reported!

Gummy Panda · 11-10-2011 02:38PM

geeky wrote: »

Chuck Stone wrote: »

S'all in the game yo.

Lols.

I know I shouldn't be surprised, but I'm not exactly comfortable with Irish companies going around acting like that. And I'm really not comfortable with the fact that it isn't being reported!

How come they say it's a British company?

mayo.mick · 11-10-2011 02:39PM

Have a look through all of this thread;

http://www.politics.ie/forum/foreign-affairs/135015-fianna-fail-tullow-oil-uganda.html?highlight=tullow

Go to page 15 gets interesting!!

mikemac · 11-10-2011 02:40PM

Gummy Panda wrote: »

How come they say it's a British company?

Setup in Ireland but they moved their HQ to London
And their main listing is London Stock Exchange

I'd say it's a British company too

pickarooney · 11-10-2011 02:43PM

I heard Sean O'Brien just needed a few extra hectalitres to fry a few batter burgers in.

Chuck Stone · 11-10-2011 02:47PM

Gummy Panda wrote: »

How come they say it's a British company?

Strategic location I reckon (London innit). Britiain still has considerable geopolitical clout (total guess though).

Paparazzo · 11-10-2011 02:50PM

mayo.mick wrote: »

Have a look through all of this thread;

http://www.politics.ie/forum/foreign-affairs/135015-fianna-fail-tullow-oil-uganda.html?highlight=tullow

Go to page 15 gets interesting!!

24 pages? Any chance of a tl;dr version?

geeky · 11-10-2011 02:50PM

Chuck Stone wrote: »

Strategic relocation reckon. Britiain still has considerable geopolitical clout (total guess though).

And investor cash handy.

_blank_ · 11-10-2011 02:51PM

Pride Fighter wrote: »

Any exchange of goods or services to Apartheid Israel is equivalent to breaking the embargo placed on South Africa in the 80's. .

There's no embargo on Israel.

Pride Fighter wrote: »

In short CRH are operating for a quick buck rather than for the benefit of humanity.

So what?

What is wrong with that?

Why do you have a problem with business making a profit in the most profitable way they can?

geeky · 11-10-2011 02:57PM

Joey the lips wrote: »

I will give this a couple of days to effect tullows share value then i will buy buy buy.....

Tullow have found a fair few propects recently....

If they can hang on to them

@InvestorNewsIE
Ugandan lawmakers have moved to delay the #tullow deal after bribery allegations. http://bit.ly/nH6I0C.

Nice to see at least one country stand up for itself.

Blowfish · 11-10-2011 03:21PM

Paparazzo wrote: »

24 pages? Any chance of a tl;dr version?

Here.

4leto · 11-10-2011 03:29PM

geeky wrote: »

Just spotted this story online - basically, a Ugandan MP has claimed that Tulow bribed several ministers in the country. National newspapers aren't covering it - fancy that.

http://www.investoronline.ie/equities/ugandan-ministers-took-bribes-from-tullow-claims-mp/

Isn't it a little disconcerting that the broadsheets here haven't touched this? An Irish-born company accused of serious wrongdoing. I remember when Tullow came up in the wikileaks cables, nobody in the mainstream press said boo either. Should we care that Irish companies are accused of this stuff?

The newspapers are not covering the story because its a non story.

Corruption in Africa is a way of life, from the bottom to the top of their society, all mineral and oil companies engage in it, as does anyone else who wants to do business in Africa.

Its a shame it is like that, it is the bane of their society, it means they will be forever developing nations.

I think Ireland is cleaner now, but look at what corruption and cronyism has cost this country over the years.

Joey the lips · 11-10-2011 03:32PM

Hold on one minute.... Does this mean we should forget about canceling overseas aid.....

geeky · 11-10-2011 03:41PM

4leto wrote: »

The newspapers are not covering the story because its a non story.

Corruption in Africa is a way of life, from the bottom to the top of their society, all mineral and oil companies engage in it, as does anyone else who wants to do business in Africa.

Its a shame it is like that, it is the bane of their society, it means they will be forever developing nations.

I think Ireland is cleaner now, but look at what corruption and cronyism has cost this country over the years.

Whatever about corruption in Africa being a non-story (and I do think you're broadly right), it's still a company with an Irish heritage being accused of bribing officials internationally. I think it's a bit more significant than, say, some old FÁS hack winning an employment appeals tribunal claim.

4leto · 11-10-2011 03:45PM

geeky wrote: »

Whatever about corruption in Africa being a non-story (and I do think you're broadly right), it's still a company with an Irish heritage being accused of bribing officials internationally. I think it's a bit more significant than, say, some old FÁS hack winning an employment appeals tribunal claim.

But the truth is if Tullow didn't engage in corruption in Uganda they simply would not get the rights.

You simply have to, so although, yes it is wrong as any corruption is, it is necessary in that part of the world.

Look at Shell's history in Nigeria.

seamus · 11-10-2011 03:48PM

geeky wrote: »

it's still a company with an Irish heritage being accused of bribing officials internationally. I think it's a bit more significant than, say, some old FÁS hack winning an employment appeals tribunal claim.

I don't see why. It's a private Irish company acting in their best interests. I wouldn't condemn Tullow for this. If you're playing by the rules when there are no rules, then you're going to lose.

If corruption is a problem in Uguanda, then it's a problem for Uguanda. Until they sort that out, I've no problem with companies doing what they have to operate in that country.

Sir Oxman · 11-10-2011 03:50PM

Michael Martin. Ugandan aid. Tullow Oil. Contracts.

As someone else said, read that politics.ie thread.

Samba · 11-10-2011 03:54PM

Des wrote: »

If I was in business and selling a product, should I vet my customers to see what they are using my product for?

Weird.

It's a good job you're not in the Arms trade so

geeky · 11-10-2011 04:18PM

seamus wrote: »

I don't see why. It's a private Irish company acting in their best interests. I wouldn't condemn Tullow for this. If you're playing by the rules when there are no rules, then you're going to lose.

If corruption is a problem in Uguanda, then it's a problem for Uguanda. Until they sort that out, I've no problem with companies doing what they have to operate in that country.

Sorry but that doesn't wash for me at all. If the allegations are true:
- they're actively feeding a system that's keeping millions of people in poverty, and causing deaths
- they're causing reputational damage for Ireland - if and when a halfway-honest regime takes charge, are they really going to want to deal with the same country that robbed them blind? It's making it impossible for honest companies to operate.

Even leaving aside the notion that taxpayer money may have been used to sweeten the Uganda deal (see p.ie thread), it's morally bankrupt to say 'sure when in Rome', particularly for a country that's been plenty exploited in the not-too-distant past.

Tullow Oil - Holy F***

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